Consultative regulation-making that should go further

Regulators such as the Reserve Bank of India (RBI) and SEBI, have been created by Acts of Parliament and have quasi-legislative powers. Within this context, strong procedural safeguards and robust checks and balances are essential to uphold the rule of law. The recent frameworks, which outline the procedures that the RBI and SEBI must follow when making law, are a welcome start. When proposing any new regulations or amendment to existing regulations, the RBI will now conduct “impact analyses” and SEBI will state the “regulatory intent and objectives”. Both regulators will also invite public comments for 21 days. Moreover, they will now periodically review their own regulations.

CITATION

Natasha Aggarwal, 2025. “Consultative regulation-making that should go further – The Hindu,” The Hindu.